Indeed, the two are now among four firms competing for three 3G spectra (Times of India, 2010), implying that if competition had not erupted between the two that Bharti would have been able to gain access to the spectra without engaging in a bidding war. Trust has been shown by Ng, Lau and Nyaw (2007) to be a precursor to success in international joint ventures.
Question 3. In order to deal with the concerns outlined above, Sunil Mittal can take a number of different steps. To deal with the concern of strategy misalignment, Mittal needs to put into place complex management and governance systems. This is required of international joint ventures specifically to ensure that the joint venture is always working towards the strategic objectives of both parent companies, not just one. Without such structures and systems, the joint venture will suffer from operational instability and resource misallocation (Luo, Tan & O'Connor, 2001).
Some of the human resources challenges can be addressed at the operational level. Training can be introduced in order to prepare foreign managers entering India for the norms of that business culture. In addition, management of both parent companies should lay down the framework for improved cross-cultural understanding. Communication should be at an enhanced level, where messages are made to be clear. This is particularly important given the nature of the joint ventures, where most managers from each company are using English, which is not their first language, as the primary language of communication.
Lastly, trust can be fostered between joint venture partners. Girmscheid and Brockmann (n.d.) propose that trust between parties can be mediated. Communication should act as a symbolic interaction between the parties -- therefore the more communication the more trust can be fostered. Both parties will be aware of the benefits of the venture to each other, but any changes in the benefits or objectives should be revealed through communication. It is not necessarily the case the changes in circumstances would be viewed negatively. In a changing environment, both parties will be subject to constantly...
Regardless of which side of the debate a person is on, the truth is that transformational leaders far outdistance those that are authoritarian or transactional in mindset and approach (Eisenbeiss, Boerner, 2010). There are many factors for this but the traits that relate to excellence in leadership are as follows. First, transformational leaders have gained the trust and respect of their peers and subordinates by being transparent, or doing
Management Principles: Organizational Theories The book The manager's bookshelf: A mosaic of contemporary views offers a compilation of a series of short essays on management, specifically how to be a 'good' versus a 'bad' manager. Although all of the managerial theories that are summarized put a slightly different emphasis on particular values over others and use different acronyms to enable readers to comprehend how to put theory into action, the essays
There are other potential challenges as well. For example, if the foreign partner does not uphold its end of the bargain. For example, Bharti takes on a foreign partner to gain managerial controls and technology transfer, but one or more of those elements fails to materialize. The result could be that the venture fails, or that Bharti is forced to take extra steps to shore up the venture. 3. With respect
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As noted above, interpersonal skills are essential in modern-day management approaches. The definition goes beyond communicating well with others. It also entails the personal traits that a person has to be a leader, which include such traits as ethical orientation, ability to accept and manage change, desire to enhance diversity, problem solving, global perspective, ability to motivate, and resiliency. Interpersonal skills, however, are not the only abilities that a manager needs.
Management Seminar Demonstrate a basic understanding of the terminology, history and theories of business and management principles. Although the concept of management is already a few centuries old, the basis for the development of a science of management was laid during the Industrial Revolution. Until the 1960's diverse viewpoints on management were recognized leading to the development of a more integrated approach to management. The process approach emphasized the basic functions of
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